Oil & Gas

INTRODUCTION The Centre for the Promotion of Private Enterprise [CPPE] commends the Nigeria Labour Congress [NLC] and the Trade Union Congress [TUC] for opting for dialogue in resolving the impasse triggered by the fuel subsidy removal. In truth, the pains inflicted on the citizens, especially the vulnerable segments of the society, were very severe. A […]

FUEL SUBSIDY: Why Nigerians should accept policy — Speaker, Lagos Assembly By Eyo Nsima The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Ajayi Obasa, has called on Nigerians to embrace the nation’s fuel subsidy as a way of life. Speaking at the occasion of his inauguration in Lagos, he said that

MARKET UPDATE: Oil price to average $79 per barrel in second half of 2023, $84/b in 2024 — EIA By Eyo Nsima The United States Energy Information Administration, EIA, has put the average spot price of Brent at $79 per barrel (b) in the second half of 2023 (2H23) and $84/b in 2024. In its

JUST IN: Depots owners pledge support, set agenda for President Tinubu’s govt By Eyo Nsima The Chairman of Depots and Petroleum Products Marketers Association of Nigeria, DAPPMAN, Dame Winifred Akpani, has tasked the President, Bola Tinubu, to adopt measuring capable of ending the fuel crisis while achieving stability in Nigeria’s downstream sector. Akpani, who visited

OIL MARKET UPDATE: Prices leap on account of China’s huge imports By Eyo Nsima Crude oil prices rose, Wednesday, following the appearance of data indicating that oil imports from China, a very fast growing economy, increased in May 2023 from the relatively low level recorded in April. The data obtained by The Daily, www.thedaily-ng.com indicated that China’s

OIL MARKET: Saudi Arabia, Russia, Iraq to produce 38.9% of OPEC+ over 40 mb/d in 2024  By Eyo Nsima The Organisation of Petroleum of Petroleum Exporting Countries, OPEC and its allies, popularly known as OPEC+, Sunday, resolved to produce over 40 million barrels per day, mb/d from January 2024. Three nations – Saudi Arabia, Russia